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BUSINESS
August 20, 2008 | Madlen Read, The Associated Press
Stocks fell sharply for a second straight session Tuesday after the government reported a higher-than-expected jump in wholesale prices and a drop in new-home construction. The Dow Jones industrial average dropped 130 points. The Labor Department said its producer price index rose 1.2% in July, doubling the expected rate and lifting inflation over the last 12 months to the highest level in 27 years. Even after stripping out food and energy, prices rose by a higher-than-expected 0.7%, the biggest increase since November 2006.
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BUSINESS
December 21, 1990 | TOM PETRUNO
If you own stocks, you're probably glad 1990 is almost over. It was a tough year to make money, even before Saddam Hussein helped bring on a full-fledged bear market. But people did score some big hits in the market this year--perhaps even a surprising number, given that broad market indexes will finish 1990 with losses ranging from 5% to 15%. Despite the year's roller coaster, good companies that managed solid earnings growth generally saw their stocks advance.
BUSINESS
June 6, 1995 | From Times Wire Services
Stocks surged to record highs Monday on the back of IBM's surprise $3.3-billion takeover bid for software firm Lotus Development Corp. Analysts said Wall Street was also hoping that the Federal Reserve Board will cut interest rates to keep the economy from slipping into recession. At the close, the Dow Jones industrial average was up 32.16 points at 4,476.55, beating the old record of 4,472.75 reached last Thursday. Several broader market indicators closed at new highs Monday.
BUSINESS
December 7, 1995 | From Bloomberg Business News
U.S. stocks rose to records for a third day Wednesday as investors grew more confident that corporate profits will expand next year as interest rates fall. Shares of banks and other financial companies led the advance. Expectations that the Federal Reserve Board will trim interest rates this month fueled optimism that the year-old rally in stocks still has room to grow.
BUSINESS
November 6, 1993 | From Times Staff and Wire Reports
Market Overview * Fresh signs of economic growth in the October employment report pushed long-term bond yields up for the sixth consecutive trading day Friday, extending a three-week selloff. * U.S. stocks, battered by two days of heavy selling, closed mixed as bargain hunters entered the market. Overseas, most foreign markets suffered deep declines. * Gold soared to a three-month high, gaining from the turmoil in stocks and bonds.
BUSINESS
March 13, 2008 | From Times Wire Services
Wall Street's euphoria over the Federal Reserve's latest move to cure the credit crunch turned to caution Wednesday, leading stocks to retreat a day after their biggest rally in more than five years. The Fed's plan announced Tuesday to lend $200 billion in Treasury securities -- and accept mortgage-backed securities as collateral -- was greeted by the stock market as an innovative way to bring relief to the tight credit markets. But investors were hesitant Wednesday to pour more money into stocks without signs that the central bank's move would help turn around the economy.
BUSINESS
January 10, 1996 | From Times Staff and Wire Reports
Another massive sell-off of technology shares sparked a broad stock market decline on Tuesday as blizzard-weary Eastern traders struggled back to work. The latest breakdown of budget talks between President Clinton and Republican leaders also contributed to the markets' negative tone--which may only worsen today, some analysts warned. On Wall Street, the technology-heavy Nasdaq composite stock index plummeted 33.56 points, or 3.3%, to 998.81, its lowest close since early October.
BUSINESS
February 18, 2009 | Walter Hamilton and Tom Petruno
After the stock market tumbled Tuesday, some investors braced for more pain while others breathed a sigh of relief. The Dow Jones industrials sank 297.81 points, or 3.8%, to 7,552.60 as share prices around the world sank on renewed worries about the health of the banking industry and doubts that governments can patch together a quick economic recovery. "I have never seen investor confidence lower than it is today," said Al Goldman, chief market strategist at Wachovia Securities.
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